Borgo del Torchio
Ref:
22028
Type:
Apartment (New, Offplan)
Location:
Manerba del Garda, Lake Garda, Italy
Price: 204600 to 540000 EUR (204600 to 540000 EUR)
Size: 58 m2 to 160 m2
1 bedroom, 1 bathroom
portfolio
Pool
Furnished
Distance to airport: 30 minutes
About Italy
Italy's history is one of the oldest. Prehistoric archaeological sites are scattered all over: Latium and Tuscany, Umbria and Basilicata. The great Roman Empire had its base here and ruled the world and was greatly respected. The respect continues to this day. Italy is well-known for its art, culture and monuments (the leaning tower of Pisa and the Roman Colosseum), as well as for its food (pizza, pasta, etc.), wine, lifestyle, elegance, design, cinema, theatre, literature, poetry, visual arts, music (notably Opera), holidays, and generally speaking, for good taste and style.
Location of Italy
Italy shares its borders with Switzerland and Austria on the north; Slovenia and the Adriatic Sea on the east; the Ionian Sea and the Mediterranean Sea on the south; the Tyrrhenian Sea, the Ligurian Sea, and the Mediterranean Sea on the west; and France on the northwest. Apart from the mainland, Italy also comprises of the Mediterranean islands of Elba, Sardinia, and Sicily, and many lesser islands. Within mainland Italy lie the independent countries of San Marino and Vatican City.
Climate of Italy
The moderating influence of the sea and the protection given by the Alpine barrier from the cold north winds join to bless Italy with a temperate climate. Nevertheless, the weather varies considerably according to how far one is from the sea or the mountains. The winter is very cold in the Alps, cold and foggy in the Po Plain and the central Apennines; mild and even warm on the Ligurian coast, the Neapolitan coast and in Sicilia.
The summer is hot and dry, but the temperature is mitigated on the coast by sea breezes and in the Apennines and Alps it is pleasantly cool. In mountain areas, winter is ideal for skiing, and summer for excursions, hiking, etc. Seaside and lake resorts, with their excellent hotel facilities, have an intense tourist season in the summer, while the cities that are rich in art treasures are ideal in spring and autumn.
Italy has a great diversity of climates ranging from the frigid in the higher elevations of the Alps and Apennines, to the semitropical along the coast of the Ligurian Sea and the western coast of the Lower Peninsula. The temperature, however, is balanced the year round and there is not much fluctuation and ranges between 11° to 19°C (about 52° to 66°F). Cool Mediterranean breezes modify extreme temperatures. The northeastern winds blowing on the eastern slopes, however, make those areas very cold during winters. Rainfall mainly occurs during the fall and winter months, when the westerly winds prevail.
Arts, Culture and Music of Italy
From antiquity to modern times, Italy has played a central role in world culture. Italians have contributed some of the world's most admired sculptures, architectural masterpieces, paintings, literature, and music (specially opera). Italians consider themselves the descendants of the ancient Romans and are very proud of their cultural heritage. Regional differences do persist mainly because of natural geographical boundaries and the disparate cultural heritage handed down from the Greeks, Etruscans, Arabs, Normans, and Lombards. Regional pluralism is evident in the local dialects, holidays, festivals, songs, and in the regional cuisine.
Italian Cosine
The main characteristic of Italian cooking is its healthy balance, the excellent basic ingredients being simply cooked and retaining their original goodness and freshness. Simple and yet with such Italian cosine a variety of flavors and rich inventiveness in preparation, that even the most demanding gourmet is delighted.
Its climate, soil and very old traditions of viticulture make Italy a natural wine-growing nation. The wines are as personal as a name, as different as the colors of the rainbow and as much a part of Italian life as almost 3,000 years of tradition can make them.
Other Italian drinks include aperitifs, blended principally over a base of the world-famous Piedmont Vermouth; dessert wines, such as Moscato, Marsala and Malvasia from Sicily and sparkling wines from Piedmont, Veneto, Tuscany and the Islands. Italy also has excellent beers and a great variety of effervescent mineral waters
Italy has a long recorded history that the biggest problem facing the traveler is to choose among the nation's endless cultural attractions. All main centre, most of the provincial cities and many quite small towns have museums.
Where to eat?
There are thousands of ristoranti (restaurants): the most formal type of place to eat when one is not in a hurry, sometimes a little fancy and pricy and family-run; trattoria and osteria: less formal than a ristorante, where local specialties are served; panineria: a sandwich bar, where a quick meal can be had at any time of the day; pizzeria: is not only for pizza lovers!
Buying property in Italy
Buying in Italy does not have to be an experience that leaves you stressed (see our tips on buying section). We advise clients to always appoint an independent Lawyer to represent them during the purchase process. Although buying in Italy is inexpensive, buyers should bear in mind that the purchase process can add up to 15% to the property price. As you would expect, Italy has a different process of buying which we have summarised as follows:
The offer
Aquarius or our associates can initiate the buying process by making the initial offer on your behalf. A deposit (Deposito di Garanzia) will ensure that you are given preference over other potential buyers and the property is generally removed from the market. You are not committed at this point. The deposit ranges from 3-5% of the agreed purchase price. We can arrange for a surveyor (Geometra) to organise a survey on the property and carry out the searches.
Preliminary contract
The sale starts with a preliminary contract (Compromesso), which is prepared by the Lawyers or Estate Agents in Italy. This agreement commits both parties to the sale. This should be be checked by your lawyer before you sign as this contract establishes the terms and conditions of the final contract (Rogito) and details price, date for completion, the nature of the property and guarantees from the seller. You will be expected to pay a deposit at this stage (Caparra), which can range from 10 - 30%. It is important to note that if you withdraw from the sale after signing the Compromesso, you lose your deposit. However, if the seller withdraws, he must pay you double your deposit! The Italian way of selling ensures that buyers are not gazumped in the marketplace and that all parties work towards an established completion date from the outset.
Contract of sale
This is the final stage of the process and transfers ownership of the property from the seller to the buyer (usually 1-3 months after the Compromesso). The document is drawn up by the Notary (Notaio), who represents both parties. The buyer, seller and estate agent or Lawyer are all required to be present for the signing of the contract at the Notary's office. You can sign the Rogito in person or we may be able to appoint a Power of Attorney in your absence - your lawyer will advise you on the appropriate action. You will be expected to transfer funds at this stage - we advise the best way of transferring funds is either via Swift at your own bank or by using a specialist currency dealer, which may be able to offer you better rate of exchange.
Closing costs
Each property has a 'statutory value,' which is usually much lower than the real value -- sometimes 50% less. At the closing, you'll pay 10% of the statutory value as a registration tax. If you plan to be a full-time resident within 18 months, you may declare your purchase as a 'prima casa' -- first house -- and pay just 3%. Your only additional cost is approximately 700-1500 Euro to the notary for deed preparation and Agents commission of between 3and 4%.
Annual taxes
Property taxes are quite low right now in Italy. The taxes will depend on the property you purchased. There are also small local taxes and services to pay to the "commune" where a property is located. Owners can set up payments through their bank accounts in Italy.
Services. Water is typically billed twice a year, electricity and telephone every other month. These, plus gas and refuse collection can also be paid directly at the post office or through a standing order at the bank.
Mortgages. Mortgages are now available in Italy an you can meet the bank representative during your viewing visit if required.
The above rules and costs may vary from time to time. It is important to use the services of and independent lawyer. Please Request your lawyer to supply you with the up to date situation on purchasing property
Mortgage and Finance
When using a mortgage to purchase in Italy it is important to find out the actual valuation of the property in comparison to the selling price. This value is approximately 70% of the sales price. Thus, if one is getting an 80% mortgage on the property, one is only getting 80% of the actual valuation. So essentially you are getting a mortgage that is 55-60% of the sale price and will have to make up the difference through an alternative financial avenue.
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